Avon Products Inc. has debt linked to talc-related lawsuits, its Brazilian parent company Natura & Co. said.
in a Delaware court amid its mounting pile of debt linked to talc-related lawsuits that allege its products caused cancer, its Brazilian parent company Natura & Co. said late Monday.
The Avon brand in the U.S. is owned by LG Household & Health Care Ltd., and is not affiliated with any other Avon entity and is not part of the Chapter 11 proceedings.No impact is expected on Avon’s operations outside the U.S., which are not part of the Chapter 11 proceedings. This includes the operations in the Latin America markets where the Avon brand is distributed by Natura.
Like Johnson & Johnson, API is facing hundreds of lawsuits over its talc products and has racked up $225 million of costs defending personal injury lawsuits and settlement payments. To date, its debt is hovering around $1.3 billion.
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